After 11 Years, Bitcoin Wallet Moves $257M in a Single Transaction
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A Bitcoin wallet untouched for over a decade has suddenly become active, moving over $257 million worth of BTC after 11 years of dormancy.
The activity was detected on Tuesday by the crypto tracking platform Lookonchain.
The wallet, which held 2,700 BTC since December 2013 when Bitcoin was valued at just $625.84, transferred its entire balance to another address. With Bitcoin priced at $95,361 at the time of the transaction, the holdings had appreciated by an extraordinary 15,137% over the years.
Although the wallet had received small amounts of Bitcoin over the years, these transactions were likely linked to dusting attacks. This tactic involves sending minuscule amounts of cryptocurrency to wallets in an attempt to analyze their transactions and potentially identify the owners.
Currently, Bitcoin is trading at $102,500, up more than 6% in the past 24 hours.
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